Rent Party: seadoo2006: Rent Party: seadoo2006: You could play the market smart, day trade on the initial buzz and then cash out with a 80-90% return, hell, I'm tempted to throw $10k at it because seriously, why not?

Because by the time your $10K gets to the trading floor, the institutional investors will have driven the immediate post IPO price through the roof. Then they will sell you $10K of shares at their price, not the IPO price.

Small investors have almost no leverage on IPOs.

You don't think that buzz is going to last ... I see a solid 3-4 months of pure ridiculousness and then reality will sit in ... the key is I'll be cashed out and long gone by then. I play the Apple game every year with the iPhone and iPad releases ... each year I seem to add a few grand to my portfolio over that week. If you haven't daytraded Apple in the last 3 years, you missed out on stupid 30% gains in a 4 day period.

You're missing the point. The IPO price is set by the underwriters. Everything beyond that is set by investors. And institutional investors will have that price up not within weeks, but within minutes. You're going to be eating *that* price, not the IPO price, and you aren't going to be buying new issues, you're going to be buying shares from them, as they own it all.

And I'm gonna call bullshiat on your iPhone claims. If you started day trading AAPL after the initial iPhone release, you're a moron because you're paying regular tax rates on the short term gain, and could have held it for a year, made way more money, and only paid the fed 15% on the long term holdings.

Apple stock dropped after release of the 3G as well.

How cute. He thinks he's going to get his bid price.

Shazam999: Rent Party: seadoo2006: Rent Party: seadoo2006: You could play the market smart, day trade on the initial buzz and then cash out with a 80-90% return, hell, I'm tempted to throw $10k at it because seriously, why not?

Because by the time your $10K gets to the trading floor, the institutional investors will have driven the immediate post IPO price through the roof. Then they will sell you $10K of shares at their price, not the IPO price.

Small investors have almost no leverage on IPOs.

You don't think that buzz is going to last ... I see a solid 3-4 months of pure ridiculousness and then reality will sit in ... the key is I'll be cashed out and long gone by then. I play the Apple game every year with the iPhone and iPad releases ... each year I seem to add a few grand to my portfolio over that week. If you haven't daytraded Apple in the last 3 years, you missed out on stupid 30% gains in a 4 day period.

You're missing the point. The IPO price is set by the underwriters. Everything beyond that is set by investors. And institutional investors will have that price up not within weeks, but within minutes. You're going to be eating *that* price, not the IPO price, and you aren't going to be buying new issues, you're going to be buying shares from them, as they own it all.

And I'm gonna call bullshiat on your iPhone claims. If you started day trading AAPL after the initial iPhone release, you're a moron because you're paying regular tax rates on the short term gain, and could have held it for a year, made way more money, and only paid the fed 15% on the long term holdings.

Apple stock dropped after release of the 3G as well.

How cute. He thinks he's going to get his bid price.

I paid nothing in taxes ... retirement account, dear sirs. I know some people say day trading your retirement isn't a good idea, but hey, since the iPhone 3G came out, I'm + $30,000 just in stock market gains. Not bad for 24 years old.

I will never sell my Fark stock.

DNRTFA
That said, this moron is no "Investor".
This moron is a "Speculator"
And a total idiot.

/that is all, carry on

Quantum Apostrophe: styckx: Have we reached peak Facebook yet? I'm eagerly anticipating it's demise.

We've reached peak apostrophe abuse. I'm eagerly anticipating a time when people will understand the difference between its and it is.

I'm eagerly anticipating the time when you understand possesive apostrophes.

These are the same kind of people that I laughed at throughout the 90s comic book collecting craze throwing their money away on worthless hype.

seadoo2006: I paid nothing in taxes ... retirement account, dear sirs. I know some people say day trading your retirement isn't a good idea, but hey, since the iPhone 3G came out, I'm + $30,000 just in stock market gains. Not bad for 24 years old.

Same here. Except I'm 21 years old. And in better shape than you. And I'm up +$80,000 since the 4S came out. And I'm better looking.

/you're full of shiat, if you're looking for clarification on my post

sure haven't: Same here. Except I'm 21 years old. And in better shape than you. And I'm up +$80,000 since the 4S came out. And I'm better looking.

/you're full of shiat, if you're looking for clarification on my post


Ah yes, the "day trading is easy look how much I made the past few years..."

Talk to us when you're a few decades in, kid, and lost your shorts many of times.

intelligent comment below: sure haven't: Same here. Except I'm 21 years old. And in better shape than you. And I'm up +$80,000 since the 4S came out. And I'm better looking.

/you're full of shiat, if you're looking for clarification on my post


Ah yes, the "day trading is easy look how much I made the past few years..."

Talk to us when you're a few decades in, kid, and lost your shorts many of times.

Were you talking to the other guy? I was just being sarcastic. I'm 31 yrs old and haven't traded a share in my life.

Okay that makes sense, my apologies. Day trading is a good way to make money but only if you are careful. You also have to start with a good amount, not everyone has 20k just laying around. Being 21 years old sounds like his parents just handed him a lot of money in the first place.

How the heck did this guy steal my retirement plan. Shakes fist at my broker. When I get off of work I am going to his kiosk at the local stripmall and give him a piece of my mind. Given out my strategies that he actually placed in my mind. To heck with that guy. I just might sell all of my international buggy whip shares he sold me and go with another group.

intelligent comment below: Ah yes, the "day trading is easy look how much I made the past few years..."

Talk to us when you're a few decades in, kid, and lost your shorts many of times.

No shiat. 24. I would looooooove to know how that story ends. He didn't have any hair on his balls when the tech bubble popped. But I'm sure he's way smarter than us and won't make any mistakes whilst gambling the retirement funds.

seadoo2006: S
I paid nothing in taxes ... retirement account, dear sirs. I know some people say day trading your retirement isn't a good idea, but hey, since the iPhone 3G came out, I'm + $30,000 just in stock market gains. Not bad for 24 years old.

If you day trade AAPL based on iPhone releases, you're still a moron. Since the 3G release of iPhone, it's appreciated about 250%. So bragging on your 30% is about 220% dumb.

JohnBigBootay: No shiat. 24. I would looooooove to know how that story ends. He didn't have any hair on his balls when the tech bubble popped. But I'm sure he's way smarter than us and won't make any mistakes whilst gambling the retirement funds.


I don't have much money in the market, and have lost 10% in a month because I'm an impatient idiot sometimes. But if you stick to a policy of buying and selling in one day, or a few days, you should be pretty good. Long term investments in bubble companies like Facebook or Apple is a good way to loose everything, no matter how much you might be up in a year or 2. The problem I ran into was being impatient and buying stock without waiting for the funds to settle, and being stuck with the stock for 3 business days, watching it drop 5% or more.

JohnBigBootay: intelligent comment below: Ah yes, the "day trading is easy look how much I made the past few years..."

Talk to us when you're a few decades in, kid, and lost your shorts many of times.

No shiat. 24. I would looooooove to know how that story ends. He didn't have any hair on his balls when the tech bubble popped. But I'm sure he's way smarter than us and won't make any mistakes whilst gambling the retirement funds.

This. I used to work construction with a guy who then quit to be a day trader. He had a few good years when he was way up, too. He did so well that's he back working construction...and I just saw the legal notice for the trustee's sale of his house....

That's because day traders get cocky and think they can short and long stocks. The only safe way to invest is to use your own money and buy the actual stock, not mess with options at all. Leave that to the professionals with millions to back them.

sure haven't: Quantum Apostrophe: styckx: Have we reached peak Facebook yet? I'm eagerly anticipating it's demise.

We've reached peak apostrophe abuse. I'm eagerly anticipating a time when people will understand the difference between its and it is.

I'm eagerly anticipating the time when you understand possesive apostrophes.

THANK YOU!

I'm so sick of people who don't spell hi's, her's, and it's with the apostrophe!

intelligent comment below: JohnBigBootay: No shiat. 24. I would looooooove to know how that story ends. He didn't have any hair on his balls when the tech bubble popped. But I'm sure he's way smarter than us and won't make any mistakes whilst gambling the retirement funds.


I don't have much money in the market, and have lost 10% in a month because I'm an impatient idiot sometimes. But if you stick to a policy of buying and selling in one day, or a few days, you should be pretty good. Long term investments in bubble companies like Facebook or Apple is a good way to loose everything, no matter how much you might be up in a year or 2. The problem I ran into was being impatient and buying stock without waiting for the funds to settle, and being stuck with the stock for 3 business days, watching it drop 5% or more.

I'm surprised you would describe Apple as a bubble company. It is the third most profitable company in the world. Its P/E is around 13.5. How would you define "bubble company"?

intelligent comment below: I don't have much money in the market, and have lost 10% in a month because I'm an impatient idiot sometimes. But if you stick to a policy of buying and selling in one day, or a few days, you should be pretty good.

I respectfully disagree. I mean I suppose some people can. But it doesn't take very many bad decisions to wipe you out. If you're selling short term you're giving back a ton paying taxes on ordinary income and paying a mint in fees from so much churn. So you can't just be up, you have to be waaaaay up to justify the risk. Sure you get to balance the tax hit on losers but that's small consolation. If you're doing the gambling on your Roth IRA balance, well, good luck with that. I hope you make a ton. I don't have the stomach for trading like that. I've done some trading in volatile stocks before. If I lose, I think about it all the time. If I win, I think about it all the time. What I slowly discovered over the years is... I don't want to think about it all the time.

Moopy Mac: I'm surprised you would describe Apple as a bubble company. It is the third most profitable company in the world. Its P/E is around 13.5. How would you define "bubble company"?


Tell me how well RIM and Nokia once were valued. I'm all ears.

JohnBigBootay: I respectfully disagree. I mean I suppose some people can. But it doesn't take very many bad decisions to wipe you out. If you're selling short term you're giving back a ton paying taxes on ordinary income and paying a mint in fees from so much churn. So you can't just be up, you have to be waaaaay up to justify the risk. Sure you get to balance the tax hit on losers but that's small consolation. If you're doing the gambling on your Roth IRA balance, well, good luck with that. I hope you make a ton. I don't have the stomach for trading like that. I've done some trading in volatile stocks before. If I lose, I think about it all the time. If I win, I think about it all the time. What I slowly discovered over the years is... I don't want to think about it all the time.


Most people lost their shorts in their retirement accounts during the dot com bust and the latest bust.

intelligent comment below: Tell me how well RIM and Nokia once were valued. I'm all ears.

That's different. Apple will always be on top because, well, you know, Steve Jobs and stuff.

Moopy Mac: intelligent comment below: JohnBigBootay: No shiat. 24. I would looooooove to know how that story ends. He didn't have any hair on his balls when the tech bubble popped. But I'm sure he's way smarter than us and won't make any mistakes whilst gambling the retirement funds.


I don't have much money in the market, and have lost 10% in a month because I'm an impatient idiot sometimes. But if you stick to a policy of buying and selling in one day, or a few days, you should be pretty good. Long term investments in bubble companies like Facebook or Apple is a good way to loose everything, no matter how much you might be up in a year or 2. The problem I ran into was being impatient and buying stock without waiting for the funds to settle, and being stuck with the stock for 3 business days, watching it drop 5% or more.

I'm surprised you would describe Apple as a bubble company. It is the third most profitable company in the world. Its P/E is around 13.5. How would you define "bubble company"?

Because a "bubble" company is "any company I don't know much about but is doing well.

A long term investment in Apple in 1999 would have yielded gains of over 2000%.

Clearly, that was a sucker's bet.

Gough: This. I used to work construction with a guy who then quit to be a day trader. He had a few good years when he was way up, too. He did so well that's he back working construction...and I just saw the legal notice for the trustee's sale of his house....

Heh. Reminds me of wade cook.

http://en.wikipedia.org/wiki/Wade_Cook

intelligent comment below: Okay that makes sense, my apologies. Day trading is a good way to make money but only if you are careful. You also have to start with a good amount, not everyone has 20k just laying around. Being 21 years old sounds like his parents just handed him a lot of money in the first place.

Except not. This isn't a pissing contest. I graduated with no debt from a public Ohio college because I got a full scholarship for scoring 32 on my ACT. I was hired three days after graduating into a high five-figure salary. I rent, paying less than $800 total for rent/utilities/internet etc, and I get full bennies through my employer. I own both my cars that I bought in college outright, my monthly car insurance is less than $150/month and I don't have any credit card debt. My live-in girlfriend makes about 1/2 as much as I do and we pool all of our expenses 50/50. It's not very hard to live extremely nicely when your expenses are less than 15% of your income.

And that being said, I'm not even classified as "rich" ... I'm solidly middle class at my salary.

My parents never gave me anything besides a few hundred bucks a year for Christmas ... I wasn't an allowance baby. I don't know how people don't think day trading is a viable solution (and FWIW, I don't actually day trade, call it week trade ... send in my trades on Monday, cash out after I make my short term gains).

Also, yes, I have a significant amount of AAPL in my portfolio that I've had since I was in 2nd grade (I was gifted 10 shares of AAPL, 10 shares of AOL, and 10 shares of PGR with reinvestment of dividends). I sold AOL in 2000 before the stock market crashed (and yes, I was 13 at the time) and made myself a little bit of money. AAPL is a perennial winner, but if you do the Apple release investment, you'll make some healthy short term gains on money you wouldn't ordinarily play with. If you look through historical data, you'll see if you invest about a month ahead of an Apple product release and sell about a month after, you'll nearly always add a short term 25-35% gain on to whatever you invest. RELIGIOUSLY. For these patterns, year after year, it doesn't take a genius to figure out how to make a quick killing year after year by doing this.

Don't believe me? Just look at AAPL's historical data and do it yourself with the upcoming release of the iPhone5 ... mark my words ... you invest a month ahead of the release date and sell a month after, you'll see a 25%-35% gain in 60 days. It's been virtually fool proof since 2008 when I started doing this in college. Paid for my first car on yes, a massive gamble, but one that pans out.

You may think I'm full of it, you may think I'm a douchebag, but I'm not bull shiatting you. This car was paid for courtesy of AAPL's iPhone3G ...

SchlingFocker: The likelihood that the $25k would be put to good use by the daughter for her first 4 years out of high school is virtually nil.

What are you talking about? You can buy a whole lot of tequila, weed, slutty clothes, and morning after pills for $25k.

seadoo2006:

If you look through historical data, you'll see if you invest about a month ahead of an Apple product release and sell about a month after, you'll nearly always add a short term 25-35% gain on to whatever you invest. RELIGIOUSLY.

You may think I'm full of it, you may think I'm a douchebag, but I'm not bull shiatting you. This car was paid for courtesy of AAPL's iPhone3G ...


You are so full of farking shiat, dude. You didn't buy just prior and sell to pay for your ride. If you did that, you'd have lost about half your investment. The 3G launched in July of '08, and AAPL promptly lost about $80 a share, and stayed that way for almost a year.

If you're going to make up bullshiat stories, you shouldn't go so far as to say stupid shiat like "if you check the historical data" because someone is going to.

Apple Stock just prior to and after 3G iPhone launch.

You should just say "Daddy bought me some stock and I sold it to buy a car."

GM has announced they are no longer going to advertise on Facebook. It's not worth the expense and trouble.

This could be the start of a run on major corporate advertisers leaving Facebook, which would clip their profits.

seadoo2006: My parents never gave me anything besides a few hundred bucks a year for Christmas ... I wasn't an allowance baby.

Also, yes, I have a significant amount of AAPL in my portfolio that I've had since I was in 2nd grade

indeed...

Rent Party: seadoo2006:

If you look through historical data, you'll see if you invest about a month ahead of an Apple product release and sell about a month after, you'll nearly always add a short term 25-35% gain on to whatever you invest. RELIGIOUSLY.

You may think I'm full of it, you may think I'm a douchebag, but I'm not bull shiatting you. This car was paid for courtesy of AAPL's iPhone3G ...


You are so full of farking shiat, dude. You didn't buy just prior and sell to pay for your ride. If you did that, you'd have lost about half your investment. The 3G launched in July of '08, and AAPL promptly lost about $80 a share, and stayed that way for almost a year.

If you're going to make up bullshiat stories, you shouldn't go so far as to say stupid shiat like "if you check the historical data" because someone is going to.

Apple Stock just prior to and after 3G iPhone launch.

You should just say "Daddy bought me some stock and I sold it to buy a car."

He probably means the 3GS but your point still stands. Religiously, heh, except for the times it doesn't work.

Old rule, don't invest what you can't afford to loose. The old saw of "go away in May" means lay low over the summer months.
This guy should by "dogs of the Dow" stocks that pay a good dividend, and roll the dividends back into buying more stocks. It feeds on itself, over time you will have a nice nest egg if you stay the course.
Remember, if the stocks go up your portfolio grows, if your stocks go down, your dividends are buying more stocks for the money.
Need to be in it for the long run.

vodka:
He probably means the 3GS but your point still stands. Religiously, heh, except for the times it doesn't work.

Lets run with that, just as an example of how dumb his argument really is.

Lets say he did buy just before the 4GS. He says he held it and made 30% on which he would have paid regular short term rates (about three months holding), making him a moron, especially if he has holdings that would qualified for the long term rate (like that stuff he had in second grade). In other words, if he day traded his way to the VW, then he's a moron for paying the short term rate when he didn't have to. If he had simply held those stocks he'd be looking at about 500% increase in value and a 15% cap gains tax on that when he sold them. But he's bragging on 30% and regular income tax rates.

Alternatively, if the tax rate on the gain was irrelevant because it was a "retirement account" as he states, then he's a moron for raiding a retirement account for a car, where he would still pay tax as regular income on the withdraw in addition to the penalties for the early withdraw.

Nothing this dude has said holds up as anything besides trust fund fantasies about what he would really do if daddy would untie the purse strings for him.

Rent Party: Because a "bubble" company is "any company I don't know much about but is doing well.

A long term investment in Apple in 1999 would have yielded gains of over 2000%.

Clearly, that was a sucker's bet.


You're using hindsight to prove a point about stocks? For every 1 stock that would have given you those gains, 10000 would have bankrupted you. To pretend you could guarantee a good return by buying its stock in 1999 is laughable.

Funk Brothers: Dad should be investing in Coca-Cola (KO), McDonald's (MCD), 3M (MMM), Microsoft (MSFT), Poctor & Gamble (PG), and Johnson & Johnson (JNJ). These are blue chip Dow Jones stocks. Invest in those before investing in Facebook.

20 years ago my blue chip pick was GM and Ford. I'm rich!

intelligent comment below: Rent Party: Because a "bubble" company is "any company I don't know much about but is doing well.

A long term investment in Apple in 1999 would have yielded gains of over 2000%.

Clearly, that was a sucker's bet.


You're using hindsight to prove a point about stocks? For every 1 stock that would have given you those gains, 10000 would have bankrupted you. To pretend you could guarantee a good return by buying its stock in 1999 is laughable.

I'm using 20 years of growth to demonstrate what a bubble company is not. To ignore that is laughable.

Rent Party: I'm using 20 years of growth to demonstrate what a bubble company is not. To ignore that is laughable.


So how did those holdings of GM do for your portfolio?

intelligent comment below: Rent Party: I'm using 20 years of growth to demonstrate what a bubble company is not. To ignore that is laughable.


So how did those holdings of GM do for your portfolio?

I'm sorry, the goal posts were set at AAPL, and I'm afraid that's where you're going to have to leave them.

Rent Party: I'm sorry, the goal posts were set at AAPL, and I'm afraid that's where you're going to have to leave them.

No. The goal posts were set at "look at a profitable company, the stock will keep going up year after year!"

Rent Party: seadoo2006:

If you look through historical data, you'll see if you invest about a month ahead of an Apple product release and sell about a month after, you'll nearly always add a short term 25-35% gain on to whatever you invest. RELIGIOUSLY.

You may think I'm full of it, you may think I'm a douchebag, but I'm not bull shiatting you. This car was paid for courtesy of AAPL's iPhone3G ...


You are so full of farking shiat, dude. You didn't buy just prior and sell to pay for your ride. If you did that, you'd have lost about half your investment. The 3G launched in July of '08, and AAPL promptly lost about $80 a share, and stayed that way for almost a year.

If you're going to make up bullshiat stories, you shouldn't go so far as to say stupid shiat like "if you check the historical data" because someone is going to.

Apple Stock just prior to and after 3G iPhone launch.

You should just say "Daddy bought me some stock and I sold it to buy a car."

The 3G was the one launch that hurt me, but I was divested of AAPL by August 2008, again, buy one month prior, sell one month after. As for taxes, no, short term gains are taxed as income ... in 2008, I was still in college and that year I just barely squeaked into the 25% bracket ... I think after educational deductions, I had an effective rate of about 13 or 14% in 2008 ... I'd have to pull my 1040s, but I doubt you'd care.

Rent Party: vodka:
He probably means the 3GS but your point still stands. Religiously, heh, except for the times it doesn't work.

Lets run with that, just as an example of how dumb his argument really is.

Lets say he did buy just before the 4GS. He says he held it and made 30% on which he would have paid regular short term rates (about three months holding), making him a moron, especially if he has holdings that would qualified for the long term rate (like that stuff he had in second grade). In other words, if he day traded his way to the VW, then he's a moron for paying the short term rate when he didn't have to. If he had simply held those stocks he'd be looking at about 500% increase in value and a 15% cap gains tax on that when he sold them. But he's bragging on 30% and regular income tax rates.

Alternatively, if the tax rate on the gain was irrelevant because it was a "retirement account" as he states, then he's a moron for raiding a retirement account for a car, where he would still pay tax as regular income on the withdraw in addition to the penalties for the early withdraw.

Nothing this dude has said holds up as anything besides trust fund fantasies about what he would really do if daddy would untie the purse strings for him.

I made, after taxes, about $9,000 on the 3Gs iPhone, paying for that car. This isn't a hard concept to grasp ... are you people just all looney or something about short term stock trading?? It worked for me, on many occasions ... it often doesn't work, but I limit my losses to 40% of my investment. Meaning, if a stocks value drops 40% or more from my purchase price, I sell regardless. Likewise, on my long term investments, I cash out at 250% ... AAPL is sort of a special circumstance because on the short game, you can play them like a dime store whore ... it's pretty religious (outside of the iPhone 3G, but that was the 2008 crash), to make short term money by them.

Also, why the hell do I care about taxes? I pay taxes like everyone else ... adding $10,000 income a year from trading stocks in my freetime is just fun money (like how I bought my car, or the turbo kit for it, or going on a vacation) ... it's all free money to me. I worked my ass off in college, banked made myself about $60,000 in 4 years by doing side video and film projects and let it sit in a savings account. Remember, in college I was living tuition, books, and rent free because the state of Ohio thought my 32 ACT was good enough to pay for me for 4 years. Literally my only expenses in college were beer and the occasional pizza. Anyways, I decided it wasn't doing crap for me, so I invested heavily in the stock market with that money around 2007.

My portfolio was about $100,000 at it's zenith before the 2008 crash, I divested entirely from the market in September and roughly was left with $78,000 left in cash. I reinvested about $40,000 in March of 2008 and began slowly drawing money back in by September of 2009. Right now, I'm trending about $110,000 out of that money fully divested.

When I talk about Apple short term gains for 25-30% gains, I will usually draw about $20-25k out of a "safe" dividend stock, like Progressive and throw it at Apple. It doesn't take a math wizard to show that a 25% gain on $20k is going to net me about $5k before taxes on a typical investment. AGAIN, this is all free money to me, so I play with it how I will and it usually works.

Of course the guy above pointed out, yes, the iPhone 3G for me was a loser, but the original iPhone was a winner, the iPhone 3Gs was a winner, the iPhone 4 was a slight winner, and the iPad and iPad3 were winners for me.

Give it up ... I'm not going to post my portfolio statements, so either you can believe me or not, but I'm not just "making this shiat" up ... It worked for me ... whether or not it does for you is a different question.

seadoo2006: My portfolio was about $100,000 at it's zenith before the 2008 crash, I divested entirely from the market in September and roughly was left with $78,000 left in cash. I reinvested about $40,000 in March of 2009 and began slowly drawing money back in by September of 2009. Right now, I'm trending about $110,000 out of that money fully divested.

FTF the pendantics in this thread ...

So how much money did you start with, and where did you get it from?

intelligent comment below: So how much money did you start with, and where did you get it from?

$60,000 and part-time job during high school and college like I said. I did video and film work for hire. Music videos/Schools/Sporting Events and Weddings. Weddings were my gravy train though. $2000-3000 for a wedding video depending on what the bride wanted. Again, $15k-20k a year wasn't difficult living rent/tuition/book free for 4 years from 2004 to 2008. It was all my play money ... some went to equipment, but the vast majority I held on to.

seadoo2006: seadoo2006: My portfolio was about $100,000 at it's zenith before the 2008 crash, I divested entirely from the market in September and roughly was left with $78,000 left in cash. I reinvested about $40,000 in March of 2009 and began slowly drawing money back in by September of 2009. Right now, I'm trending about $110,000 out of that money fully divested.

FTF the pendantics in this thread ...

Yeah.... I had an ACT of 32 and didn't get a full ride at an Ohio state school. I suppose that's possible, but I doubt it. I knew a guy with a 36 and he didn't either. And I'm curious why you don't consider getting Apple stock in second grade as counting towards an allowance. If that was true, then your parents/relatives are wealthy and you are like any of the other people that are born on third base. Try investing with college loan debt and working shiatty jobs through school just to make ends meet.

seadoo2006: intelligent comment below: So how much money did you start with, and where did you get it from?

$60,000 and part-time job during high school and college like I said. I did video and film work for hire. Music videos/Schools/Sporting Events and Weddings. Weddings were my gravy train though. $2000-3000 for a wedding video depending on what the bride wanted. Again, $15k-20k a year wasn't difficult living rent/tuition/book free for 4 years from 2004 to 2008. It was all my play money ... some went to equipment, but the vast majority I held on to.

How did you buy your video equipment in high school?

drateR: seadoo2006: seadoo2006: My portfolio was about $100,000 at it's zenith before the 2008 crash, I divested entirely from the market in September and roughly was left with $78,000 left in cash. I reinvested about $40,000 in March of 2009 and began slowly drawing money back in by September of 2009. Right now, I'm trending about $110,000 out of that money fully divested.

FTF the pendantics in this thread ...

Yeah.... I had an ACT of 32 and didn't get a full ride at an Ohio state school. I suppose that's possible, but I doubt it. I knew a guy with a 36 and he didn't either. And I'm curious why you don't consider getting Apple stock in second grade as counting towards an allowance. If that was true, then your parents/relatives are wealthy and you are like any of the other people that are born on third base. Try investing with college loan debt and working shiatty jobs through school just to make ends meet.

You went to the wrong Ohio state school then ... Ohio University ... Room and board and books were covered by an independent scholarship I got in high school from the Steris Corporation.



As for the 30 shares of stock I got in 2nd grade, it was a First Communion gift from my grandparents. They asked me what three companies I wanted to invest in and they bought 10 shares from each. At the time, Apple was about $6.50 a share, Progressive was like $3.70, and in a fitting first lesson, AOL was nearing it's all time high at like $60/share (the big gift from my grandparents) right before it crashed that summer ... so all told, I got like $700 in general stock ... that was worth about half that two months later ... that's not really what I call an obscene gift.